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27-31B-16
Section 27-31B-16 Tax on premiums collected. (a) Each captive insurance company shall pay to
the commissioner, by March 1 of each year, a tax at the rate of four-tenths of one percent
on the first 20 million dollars, three-tenths of one percent on the next 20 million dollars,
two-tenths of one percent on the next 20 million dollars, seventy-five thousandths of one
percent on each dollar thereafter on the direct premiums collected or contracted for on policies
or contracts of insurance written by the captive insurance company during the year ending
December 31 next preceding, after deducting from the direct premiums subject to the tax the
amounts paid to policyholders as return premiums which shall include dividends on unabsorbed
premiums or premium deposits returned or credited to policyholders. Notwithstanding the foregoing,
no tax shall be due or payable as to considerations received for annuity contracts. (b) Each
captive insurance company shall pay to the commissioner by March 1 of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-16.htm - 6K - Match Info - Similar pages
33-12-5
Section 33-12-5 Powers, duties and functions. The powers, duties and functions of the agency
shall be as follows: (1) GENERALLY. The agency a. Shall have perpetual succession in its corporate
name. b. May sue and be sued in its corporate name. c. May adopt, use and alter a corporate
seal, which shall be judicially noticed. d. May enter into such contracts and cooperative
agreements with the federal, state and local governments, with agencies of such governments,
with private individuals, corporations, associations, trusts and other organizations as the
board may deem necessary or convenient to enable it to carry out the purposes of this chapter,
including the planned, orderly residential development of the area. e. May adopt, amend and
repeal bylaws. f. May appoint such managers, officers, employees, attorneys and agents as
the board deems necessary for the transaction of its business, fix their compensation, define
their duties, require bonds of such of them as the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/33-12-5.htm - 18K - Match Info - Similar pages
39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
23-7-2
Section 23-7-2 Definitions. For the purposes of this chapter, the following words shall have
the following meanings: (1) BANK. The Alabama Transportation Infrastructure Bank. (2) BOARD.
The board of directors of the bank. (3) BONDS. Includes bonds, notes, or other evidence of
indebtedness except as otherwise provided in this chapter. (4) DEPARTMENT or DEPARTMENT OF
TRANSPORTATION. The Alabama Department of Transportation. (5) ELIGIBLE COST. As applied to
a qualified project to be financed from the federal highway account, the costs that are permitted
under applicable federal laws, requirements, procedures, and guidelines in regard to establishing,
operating, and providing assistance from the bank. As applied to a qualified project to be
financed from the state highway account, these costs include the costs of preliminary engineering,
traffic, and revenue studies; environmental studies; right-of-way acquisition; legal and financial
services associated with the development of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/23-7-2.htm - 9K - Match Info - Similar pages
27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
40-18-311
Section 40-18-311 Income tax deduction; contributions to catastrophe savings account. (a) An
individual taxpayer is allowed a deduction against income earned for state income tax purposes
imposed pursuant to Section 40-18-5, for amounts contributed to a catastrophe savings account
in accordance with subsection (c) and all interest income earned by a catastrophe savings
account is exempt from the tax imposed pursuant to Section 40-18-5. (b) A catastrophe savings
account is not subject to attachment, levy, garnishment, or legal process in this state. (c)
The total amount that may be contributed to a catastrophe savings account must not exceed
any of the following: (1) In the case of an individual whose qualified deductible is less
than or equal to one thousand dollars ($1,000), two thousand dollars ($2,000). (2) In the
case of an individual whose qualified deductible is greater than one thousand dollars ($1,000),
the amount equal to the lesser of fifteen thousand dollars ($15,000) or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-311.htm - 1K - Match Info - Similar pages
19-3A-413
Section 19-3A-413 Property not productive of income. (a) If a marital deduction is allowed
for all or part of a trust whose assets consist substantially of property that does not provide
the spouse with sufficient income from or use of the trust assets, and if the amounts that
the fiduciary transfers from principal to income pursuant to Section 19-3A-104, if applicable,
and distributes to the spouse from principal pursuant to the terms of the trust are insufficient
to provide the spouse with the beneficial enjoyment required to obtain the marital deduction,
then the spouse may require the fiduciary (1) to make property productive of income, (2) to
convert property within a reasonable time or (3) to exercise the power conferred by Section
19-3A-104(a), if applicable. The fiduciary may decide which action or combination of actions
to take. (b) In cases not governed by subsection (a), a fiduciary shall allocate to principal
the proceeds from the sale or other disposition of an asset...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-413.htm - 1K - Match Info - Similar pages
40-18-33
Section 40-18-33 Corporate income tax - Taxable income. In the case of a corporation subject
to the tax imposed by Section 40-18-31, the term "taxable income" means federal
taxable income without the benefit of federal net operating losses plus the additions prescribed
and less the deductions and adjustments allowed by this chapter and as allocated and apportioned
to Alabama. (Acts 1935, No. 194, p. 256; Code 1940, T. 51, §400; Act 98-502, p. 1083, §1;
Act 99-664, 2nd Sp. Sess., p. 124, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-33.htm - 814 bytes - Match Info - Similar pages
16-6D-9
Section 16-6D-9 Tax credit claims; administrative accountability; verification of requirements;
rules and procedures. (a)(1) An individual taxpayer who files a state income tax return and
is not claimed as a dependent of another taxpayer, a taxpayer subject to the corporate income
tax levied by Chapter 18 of Title 40, an Alabama S corporation as defined in Section 40-18-160,
or a Subchapter K entity as defined in Section 40-18-1 may claim a credit for a contribution
made to a scholarship granting organization. If the credit is claimed by an Alabama S corporation
or Subchapter K entity, the credit shall pass through to and may be claimed by any taxpayer
eligible to claim a credit under this subdivision who is a shareholder, partner, or member
thereof, based on the taxpayer's pro rata or distributive share, respectively, of the credit.
(2) The tax credit may be claimed by an individual taxpayer or a married couple filing jointly
in an amount equal to 100 percent of the total...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-6D-9.htm - 24K - Match Info - Similar pages
37-11C-4
Section 37-11C-4 Allowance and claim of tax credits; Railroad Rehabilitation Income Tax Credit
Account; written transfer agreements. (a) For tax years beginning after December 31, 2019,
there is a credit allowed against the state income tax levied by Section 40-18-2 equal to
50 percent of an eligible taxpayer's qualified railroad rehabilitation expenditures. The tax
credit allowed under this section may not exceed three thousand five hundred dollars ($3,500)
multiplied by the number of miles of railroad track owned or leased within the state by the
eligible taxpayer at the close of the taxable year. (b) There is created within the Education
Trust Fund a separate account named the Railroad Rehabilitation Income Tax Credit Account.
The Commissioner of Revenue shall certify to the state Comptroller the amount of income tax
credits under this section and the state Comptroller shall transfer into the Railroad Rehabilitation
Income Tax Credit Account only the amount from sales tax revenues...
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